Property Valuation
Progression in property valuation means a lower-value property:
ADecreases the values of surrounding higher-value properties
BBenefits from being surrounded by higher-value properties✓ Correct
CCannot be sold in an area with higher-value properties
DIs condemned by the government for public improvement
Explanation
Progression is the opposite of regression. A lower-value property surrounded by higher-value properties may have its value positively influenced upward.
Related Kentucky Property Valuation Questions
- Which appraisal principle states that the value of a property is influenced by the values of surrounding properties?
- In Kentucky, an appraisal developed for federal mortgage lending purposes must comply with:
- The 'replacement cost' in the cost approach differs from 'reproduction cost' in that replacement cost uses:
- A Kentucky appraisal report that is prepared for a federally related transaction must comply with:
- A Kentucky appraiser who is appraising a property they have a financial interest in should:
- Functional obsolescence in a Kentucky home would be best represented by:
- In Kentucky, a property's 'as-is' value versus its 'as-repaired' value may differ significantly when:
- A Kentucky appraiser estimates physical depreciation for a 15-year-old building by dividing the building's age by its expected economic life. This method is called:
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